State Street Corp cut its stake in shares of Companhia Brasileira de Distribuicao (NYSE:CBD) by 8.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 333,662 shares of the company’s stock after selling 30,813 shares during the period. State Street Corp owned 0.13% of Companhia Brasileira de Distribuicao worth $6,524,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Harding Loevner LP lifted its stake in Companhia Brasileira de Distribuicao by 1.2% in the second quarter. Harding Loevner LP now owns 6,418,690 shares of the company’s stock worth $125,485,000 after acquiring an additional 77,200 shares during the period. INCA Investments LLC raised its holdings in Companhia Brasileira de Distribuicao by 16.3% in the second quarter. INCA Investments LLC now owns 1,878,300 shares of the company’s stock worth $36,721,000 after purchasing an additional 263,800 shares in the last quarter. Brandes Investment Partners LP raised its holdings in Companhia Brasileira de Distribuicao by 2.9% in the second quarter. Brandes Investment Partners LP now owns 1,832,486 shares of the company’s stock worth $35,825,000 after purchasing an additional 51,358 shares in the last quarter. Vanguard Group Inc. raised its holdings in Companhia Brasileira de Distribuicao by 3.6% in the second quarter. Vanguard Group Inc. now owns 1,701,006 shares of the company’s stock worth $33,255,000 after purchasing an additional 59,100 shares in the last quarter. Finally, BT Investment Management Ltd bought a new position in Companhia Brasileira de Distribuicao in the second quarter worth $14,124,000. Institutional investors own 3.33% of the company’s stock.
Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Companhia Brasileira de Distribuicao from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Tuesday, September 26th. UBS raised Companhia Brasileira de Distribuicao from a “market perform” rating to an “outperform” rating in a research report on Tuesday, November 21st. Finally, Credit Suisse Group raised Companhia Brasileira de Distribuicao from a “neutral” rating to an “outperform” rating in a research report on Tuesday, November 7th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $28.00.
The firm also recently announced a special dividend, which will be paid on Friday, December 22nd. Investors of record on Monday, December 11th will be paid a dividend of $0.0968 per share. The ex-dividend date is Friday, December 8th. This is an increase from Companhia Brasileira de Distribuicao’s previous special dividend of $0.06. Companhia Brasileira de Distribuicao’s dividend payout ratio (DPR) is 106.45%.
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Companhia Brasileira de Distribuicao Profile
Companhia Brasileira de Distribuicao, directly or through its subsidiaries, is engaged in the retail of food, clothing, home appliances, electronics and other items through its chain of hypermarkets, supermarkets, specialized stores and department stores principally under the trade names Pao de Acucar, Minuto Pao de Acucar, Extra Hiper, Extra Super, Minimercado Extra, Assai an the neighborhood shopping mall brand Conviva.
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